Farris Co.

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(TCO 7) Farris Co.’s projected sales are as follows.



August



$240,000



September



$270,000



October



$330,000







Farris estimates that it will collect 30% in the month of sale, 50% in the month after the sale, and 18% in the second month following the sale. Two percent of all sales are estimated to be bad debts. How much are Farris Co.'s budgeted cash receipts for October? 

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